The genius combination of creative genius and entrepreneurial talent is increasing the visibility of African fashion to the the world and a new breed of designers are leveraging the continents rich cultures history and fabrics to make bold fashion statements.

The ADB(African Development Bank) estimates Africa’s fashion industry could be worth 15.5 billion dollars over the next five years. While this is huge it’s only a small share of the global fashion industry’s value of 1.3 trillion dollars despite its current challenges Africa’s fashion industry has the potential to create millions of jobs and significantly boost economic growth on the continent this is already happeningin countries like Mauritius Ethiopia and Lesotho where apparel exports are a major foreign exchange earner.

Because Africa’s biggest food problem isn’t production. What is it then? It’s processing and food marketing. If Africa could process more of the food it produces, food waste will reduce, food supplies would be more stable and less seasonal and food prices would be less prone to wild swings.

For instance Nigeria is a leading producer of tomatoes in Africa however the country spends millions of dollars every year on importing processed tomato paste from China. The same situation applies to several other imported processed food products whose raw materials are abundantly produced in Africa but still imported from other countries.

4. Pay TV

pay TV with annual revenues estimated at over 4 billion dollars. Africa’s large population and its youthful population makes it a very attractive market for the pay TV industry. Africa’s growing internet love gave rise to smartphone adoption and digital migration. These are the keys to grow pay TV market in Africa.

As niche offerings such as video-on-demand and Internet Protocol TV evolve in 2017 more households in Africa will become paid TV subscribers. Thus generating more revenue for new and existing players in Africa’s fast emerging pay TV market.

Transportation from urban to rural areas and vice versa is important in every community. That is the idea behind Yuba, a highly successful multinational ride-hailing business has recently opened the eyes of Africans to the big opportunities in Africa’s urban transport market.

Now present in 12 cities across the continent including Kampala, Nairobi,Rabat,Johannesburg Lagos and Cairo. Yubel has created a powerful platform for entrepreneurs and investors to reach the lucrative rewards of serving urban transport needs in Africa.

According to a recent World Bank study only one in three people in sub-saharan Africa has access to electricity and up to eighty percent of households on the continent use firewood and charcoal as a primary energy source for cooking endangering the continents fast depleting forest resources across the continent.

Companies such as m-kopa, solar off-grid, electric stem, echo-y empro energy in Ghana and several others are making lighting available to people without harming the health of people in Africa by using the power of the Sun and water to provide low-cost effective electricity to unconnected households.

7. Digital healthcare

Aproximately, Africa has less than one doctor per twenty thousand persons in countries like Tanzania and Ethiopia. The healthcare industry in Africa is in a ugly state.

Now:

As entrepreneurs across Africa are taking on these challenges by creating innovative digital healthcare solutions. These innovations which include tele-medicine and M-health applications are helping to free up congested health facilities from dealing with non life-threatening conditions so they can provide better care to patients who require more critical care. This is why this is #7 on our top 10 business ideas in Africa.

8. sports betting

Sports betting is #8 top 10 business ideas in Africa . Betting on sport isdefinitely making a great wave in Africa as Africa lack of laws on betting is aiding it’s widespread. Use of mobile phones and increasing access to the Internet have reduced the barriers to enter this 350 million strong African market with a growing appetite for sports betting.

In July 2016, sport paisa the biggest sports betting business in East Africa became the first organisation in Kenya to sponsor an English Premier League football club after it signed a three-year deal with Hull City FC.

Africa a continent with a population of over 1 billion people of which about 60% are young people below the age of 25. Africa presents a great ground for its local film and music industry. The four biggest business opportunities in this industry are in film and music financing, production, distribution and exhibition.

With less than one cinema per million people, Africa is the most underserved cinema market in the world and in music the growing entrance of African music into the Western world is generating millions of dollars for stake
holders in this industry.

Access to financial services is very poor in most cases just about one in five adults has a bank account and most transactions are still done in cash but since the wild success of “M paisa” the revolutionary mobile money solution that has transformed financial services in East Africa several innovative vintage products and services have erupted across the continents.

Finally we come to the end of our top 10 business ideas in Africa. Hopefully, you’d decide to dive into any of these ASAP

This makes perfect sense, but the writer didn’t include investment in tailoring, small scale farming and health/medical sector. The country economic state of the country(Nigeria) is not really accomodating to new business start ups and ideas this year(2017) but at least, your helpful article will give a much larger hope to those interested in owning their very own small scale business

My name is Marina and I am from Canada. I believe that Nigeria has a lot of potential as a great country with a very good number of populace. I believe these top business ideas should help an entrepreneur out with new business prospects in Africa; the potentials of Africa remain untapped

You first need to understand that Ideas don’t make someone a millionaire. Now,Selling the finished product is what produces profit.

It doesn’t have to be anything special or complicated. Just take a look at “the Snuggie”-a fleece robe you put on backwards. They called it a “blanket with sleeves” and sold about $1 billion worth.

Everyday, thousands of ordinary products make billions of dollars to its owners annually. Knife sets, coffee makers, garden hoses. Nothing new or revolutionary. Just basic stuff people want to buy.

Ideas are worthless; very few understand this. That is why so many entrepreneurs waste time trying to find a “big idea” and bring some new concept to market. Just stop and take a Look around to see what people are spending money on. Redesign and then sell that stuff to people.